Tether's Gold Holdings Rival Central Banks, Reports Jefferies

According to Odaily, a report by Jefferies reveals that stablecoin issuer Tether currently holds 116 tons of physical gold, positioning it as one of the largest holders outside of central banks. This reserve size is comparable to the central banks of countries like South Korea, Hungary, and Greece. In the last quarter, Tether's gold purchases accounted for nearly 2% of global demand and approximately 12% of central bank purchases, potentially impacting short-term market supply and investor sentiment. Investors cited by Jefferies believe Tether plans to acquire an additional 100 tons of gold in 2025. With an anticipated profit of $15 billion this year, this goal appears attainable, according to the report. Furthermore, Tether has invested over $300 million in precious metal producers.